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Soriano Opting Out!

Rafael Soriano will opt out of his contract with the Yankees and elect free agency today, Jon Heyman of CBSSports.com reports. Soriano's contract includes a $14MM player option for 2013 with a $1.5MM buyout.

Assuming the right-hander opts out, the Yankees will counter by making him a one-year qualifying offer worth $13.3MM. This would link Soriano to draft pick compensation, setting the Yankees up for a potential pick in 2013. The Scott Boras client is believed to be seeking a four-year deal, Heyman reports. Soriano probably won't accept New York's qualifying offer, but the Yankees are likely willing to give him a two-year deal.

The 32-year-old posted a 2.26 ERA with 9.2 K/9 and 3.2 BB/9 with 42 saves this past season. “There is a strong chance that he would have tremendous value as a free agent,” Boras told Joel Sherman earlier in the month. It's hard to disagree following such a strong season.

Leo's Thought Of The Day

Statistics are used much like a drunk uses a lamppost: for support, not illumination.

Money better used else where. We still have a very good bullpen. And if Mo does hang them up, which I think he won't, we can fill the closers role with someone cheaper and probably as good (Madson, Soria, etc.)

Scott Boras Seeking Four Years For Rafael Soriano
By Mike Axisa [October 31 at 8:25pm CST]

Rafael Soriano opted out of the final year of his contract with the Yankees today, passing up a guaranteed $14MM in favor of a potential multiyear deal. Team president Randy Levine and agent Scott Boras told Jon Heyman of CBSSports.com that the two sides did discuss a new contract, but they didn't see eye to eye.

"Randy and I had a discussion," said Boras. "He requested us to make an offer. At this time, we thought it best to file before making any proposals to the Yankees ... I never make promises as to what the free-agent market might bear. I'm in the business of providing information to my clients and negotiating on their behalf. I'm not in the business of promising my clients contracts."

Levine told Heyman that Boras told Soriano he "could get $60 million for four years" on the open market this offseason, which would be the richest contract for a reliever in history. "People can make logical conclusions. I am happy he feels he has a feel for the value of the player," added Boras of Levine.

Soriano, 32, pitched to a 2.26 ERA with 9.2 K/9 and 3.2 BB/9 this season, and he went 42-for-46 in save chances after Mariano Rivera injured his knee. Jonathan Papelbon signed a four-year, $50MM contract with the Phillies last offseason, which appeared to set the market for high-end closers.